M&A Deal Summary

Strikepoint Group Holdings Acquires Weeks Service

On February 21, 2023, Strikepoint Group Holdings acquired business services company Weeks Service from Diamond State Ventures and Aavin Equity Advisors

Acquisition Highlights
  • This is Strikepoint Group Holdings’ 9th transaction in the Business Services sector.
  • This is Strikepoint Group Holdings’ 9th transaction in the United States.
  • This is Strikepoint Group Holdings’ 1st transaction in Texas.

M&A Deal Summary

Date 2023-02-21
Target Weeks Service
Sector Business Services
Buyer(s) Strikepoint Group Holdings
Sellers(s) Diamond State Ventures
Aavin Equity Advisors
Deal Type Add-on Acquisition

Target

Weeks Service

League City, Texas, United States
Weeks Service offers installation, service, and maintenance for heating and air conditioning systems in addition to electrical and generator service, replacement and maintenance. Weeks Service was founded in 1972 and is based in League City, Texas.

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Buyer(S) 1

Buyer

Strikepoint Group Holdings

Newark, Delaware, United States

Category Company
Founded 1987
Sector Business Services
DESCRIPTION

Strikepoint Group Holdings is one of the largest and most referred home services companies in the United States, specializing in heating, air conditioning, plumbing, drain cleaning, electrical, and indoor air quality. Strikepoint Group Holdings was founded in 1987 and is based in Newark, Delaware.


DEAL STATS #
Overall 9 of 9
Sector: Business Services M&A 9 of 9
Type: Add-on Acquisition M&A Deals 9 of 9
State: Texas M&A 1 of 1
Country: United States M&A 9 of 9
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 Elite Heating & Air

Bradenton, Florida, United States

Elite Heating & Air is a trusted provider of heating, cooling, and plumbing services in Bradenton and Sarasota, Florida. Elite Heating & Air was founded in 1999 and is based in Bradenton, Florida.

Buy -

Seller(S) 2

SELLER

Diamond State Ventures

Little Rock, Arkansas, United States

Investor


Category Growth Capital Firm
Founded 1999
PE ASSETS 125M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Diamond State Ventures (DSV) is a private equity and venture capital firm focused on small and lower middle-market company investments in Arkansas, as well as the Midwest and Southeast US. DSV looks to commit $1 to $5 million per investment, which can take the form of subordinated debt, preferred equity or a combination of the two. Prospective transaction situations include growth capital financings, management buyouts, family successions, recapitalizations, and early stage investments. Sectors of interest include niche manufacturing, business services, media, consumer products and services, education, healthcare, and technology. DSV will not invest in seed or startup companies. Diamond State Ventures is based in Little Rock.


DEAL STATS #
Overall 13 of 15
Sector: Business Services M&A 1 of 2
Type: Add-on Acquisition M&A Deals 11 of 11
State: Texas M&A 1 of 1
Country: United States M&A 13 of 15
Year: 2023 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-12 Arrow Material Handling Products

Lenexa, Kansas, United States

Arrow Material Handling Products fabricates and distributes forks and attachments for all makes and models of forklift trucks, skid steers, and construction equipment. Arrow's products are sold to customers that include construction companies, rental companies, farmers and ranchers, original equipment manufacturers, and machinery distributors. Arrow Material Handling Products was founded in 1969 and is based in Lenexa, Kansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-03 PFI Instore

Hazelwood, Missouri, United States

PFI Instore is a merchandising solution provider to retailers and consumer-branded product companies. PFI's products and solutions can be found in most major convenience, grocery, specialty, and department stores in the United States. PFI Instore was founded in 1956 and is based in Hazelwood, Missouri.

Sell -
SELLER

Aavin Equity Advisors

Cedar Rapids, Iowa, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 275M USD
Size Small
Type Sector Agnostic
DESCRIPTION

AAVIN Private Equity is a private investment firm that targets investments in smaller companies at all stages of development from early stage to later stage/buyouts. AAVIN typically looks for opportunities located in the Midwest and typically commits $1 to $5 million of capital per transaction. Sectors of interest include medical services & devices, telecommunications, manufacturing & distribution, industrial products & services and computer & software. AAVIN was formed in 1999 and is based in Cedar Rapids, Iowa.


DEAL STATS #
Overall 12 of 15
Sector: Business Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 9 of 10
State: Texas M&A 2 of 4
Country: United States M&A 12 of 15
Year: 2023 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 AMC Fabrication

Las Vegas, Nevada, United States

AMC Fabrication designs, manufacture, assemble, & provide finishing services all in house and 50,000+ square foot fabrication facility houses the most advanced equipment and techniques in the industry. AMC Fabrication is based in Las Vegas, Nevada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-30 China Pearl

Pacoima, California, United States

CPI Luxury Group is a distributor and designer of pearls and pearl-based jewelry. CPI Luxury Group was founded in 1983 and is based in Pacoima, California.

Sell -